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Ferguson ready to co-operate with DCA

Accounting firm A F Ferguson said on Tuesday that officials of the Department of Company Affairs had inspected several books and files at its Cuffe Parade office in Mumbai on Monday and the firm offered to co-operate with the DCA for inspection of records.

Clarifying media reports on the issue, an official of the company said the DCA officials had not confiscated or seized any documents during the search conducted by a team headed by the Registrar of Companies.

"We have nothing to say at this moment, but we are ready to co-operate with DCA officials at all legal levels," the official told PTI on condition of anonymity.

A manager at Ferguson's head office said the senior partners of the firm were in a meeting and "will react to media queries when they decide to do so."

A six-member DCA team led by ROC had inspected Ferguson's records, following the controversy over auditing of Tata Finance Ltd accounts.

The action was taken under various sections of the Companies Act, which provides for inspection of records and search and seizure of documents with prior permission of a court.

This step follows a complaint lodged with DCA following the controversy after the audit firm withdrew its report that went into some alleged irregularities in Tata Finance allegedly under pressure from the Tatas.

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